Portugal Risk Rises After Irish Rescue on ‘Who’s Next?’ Concern
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The cost of insuring against losses on Portuguese government bonds climbed the most in almost two months as traders look past the bailout of Ireland to which country will be next to require assistance.
Credit-default swaps tied to Portuguese debt jumped 29.5 basis points to a one-week high of 447 basis points, the biggest increase since Sept. 27, according to data provider CMA. The contracts, which reached a record close of 478 basis points on Nov. 11, have widened about 148 basis points in the past month.